We could soon see Coach Inc. on the Hong Kong stock exchange. The American handbag firm has sought approval for a listing through the Hong Kong depositary receipts, which could be approved as early as the first week of November. J.P. Morgan Chase & Co. is reportedly handling the agreement.

Coach Inc. already has a successful listing on its local New York Stock Exchange. It's thought that it may be the first American company to seek a second listing in Hong Kong.

If the results of other high profile accessories brands are any indication, the joint listing on the Asian market is likely to pay dividends for the brand. Prada SpA raised $2.5 billion when it launched its IPO on the Hong Kong stock market in June. In the same month Samsonite International also listed and raised $1.25 billion. However a company spokesperson says the double listing is more about "marketing than finance."

There's no denying that the Hong Kong listing could raise valuable awareness of the brand in luxury-hungry China. If all goes well Credit Suisse estimates that Coach will generate $1 billion, or roughly 14% of its sales, from the Chinese marketplace by 2016. That's a real jump from the current $187.5 million, which represents around 4.5% of sales, its current 66 Chinese outlets bring in.